Nifty Trend

Markets traded the whole session expanding its bear rally while again closed on a flat note exhibiting lower lows on daily charts. Nifty future opened gap up around the key resistance level of 5600 from where it reversed and dragged towards the support level of 5550. If it sustains below 5600 for the coming sessions then nifty may soon test the next major support of 5460. However, if it crosses 5640 then next resistance is seen around 5700.

TREND: SIDEWAYS

SUPPORT : 5550 & 5500
RESISTANCE: 5620 & 5670

Major Market News:

Sensex flat; Mid and small-caps underperform.
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MCX, FTIL rally over 4% on mock testing of CM segment.

Thank you very much.

Nifty Trend-06/12/2012

Markets are trading continuously on higher side ahead of vote on FDI in retail in the Parliament and closed on a flat to positive note. Nifty future opened gap up and is able to hold above 5900 which is indicating a positive sign for this bull rally. Now, 6000 is the major resistance seen ahead. If it breaks the important support of 5900 and sustain below it then it may test the support range of 5850-5800.

TREND: SIDEWAYS

SUPPORT : 5900 & 5850
RESISTANCE: 5990 & 6030

Markets opened on higher note and just tested their crucial levels and rebounded from these key levels towards support level and ended on a flat note. Nifty future tested the 6000 mark and soon dragged towards 5900 support level and closed on a flat note as per previous session. As per our last report 6000 acted as stiff resistance and it needs a closing above this level for bull run to continue. While on lower side, 5890-5840 is seen as strong support range for the coming session.

TREND: SIDEWAYS

SUPPORT : 5890 & 5840
RESISTANCE: 5970 & 6010

Major Market News:

Sensex trades down 65 points; Realty, Power drag.
Exports in November fall 4.17%; incentives to be announced by week-end.
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Bartronics India up 19% on acquisition of 51% in US firm.

Nifty looks saturated and upside will be limited ... Next big event is RBI policy meet on Dec 18th ... Until then, markets will be Dull ...

Cheers!
Mani

Markets opened on a flat note but showed a free fall after surpassing their key support levels and closed on a lower note. Nifty future closed below the key support level of 5900 indicating certain weakness in the coming sessions. If it holds below 5900 mark then bear trend will further take it towards the important support zone of 5840-5790. On higher side, 5920 is seen as immediate resistance for nifty.

TREND: SIDEWAYS

SUPPORT : 5830 & 5790
RESISTANCE: 5920 & 5970

Major Market News:

Sensex ends 126 points lower; ITC, L&T, HUL drag.
ITC plunges 4% as FTSE cuts free float weighting.
Anil Ambani’s Reliance, China’s Wanda to form JV.
Jet Air up 10% on Emirates renewing agreement.
Deutsche Bank India gets Rs 1,054 crore capital infusion to fund growth plans

Markets dropped about 1% on account of weak global cues and uncertainty over US fiscal cliff further dampened the sentiments. Nifty future opened gap down and remained lower for the whole session and found support around 5850. On daily charts, its closing indicates a lower consolidation which appears to give a breakout below its important support of 5830. On higher side, 5900 is seen as the key resistance level.

TREND: SIDEWAYS

SUPPORT : 5810 & 5770
RESISTANCE: 5905 & 5950

Major Market News:

Sensex falls 212 points on weak global cues; Realty down 3.5%.
Adani Enterprises climbs on higher OFS floor price.
Kingfisher surges 3% on licence renewal application.
Sesa acquires remaining 49% stake in WCL.
M&M falls further on Navistar stake buy.

Markets gained momentum ahead of F&O Expiry series and closed on a strong note above their key resistance levels. Nifty future consolidated in the early trades then positive sentiments pulled nifty towards the key resistance of 5900 and closed above it. Volatile movements are expected in the coming session due to expiry where 5950 is seen as crucial resistance. On lower side, 5870 is seen as immediate support below which 5830 is next support for it.

TREND: SIDEWAYS

SUPPORT : 5870 & 5830
RESISTANCE: 5950 & 5980

Markets began the year on a upbeat note as sentiments were boosted by the fiscal deal in US and there-forth able to close above their crucial resistance levels. Nifty future opened above its key resistance of 5950 and moved towards the next stiff resistance of 6000. Closing above this level indicates that positive sentiments may continue further towards the next resistance of 6030. On lower side, 5965 will act as strong support for nifty.

TREND: SIDEWAYS

SUPPORT : 5965 & 5930
RESISTANCE: 6030 & 6080